December 27 (SeeNews) - Bulgarian car battery maker Monbat [BUL:5MB] said on Thursday that its adjusted consolidated operating profit before taxes fell by 68.9% year-on-year to 7.3 million levs ($4.2 million/3.7 million euro) in the first eleven months of 2018.
Monbat’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by an annual 31.1% to 26.7 million levs in January-November, Monbat said in a statement.
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The company’s consolidated net sales revenue decreased 6.3% on the year to 278 million levs in the period under review.
In November alone, Monbat posted an adjusted operating pre-tax loss of 825,000 levs after a 7.5% drop in net sales revenue, to 31.8 million levs.
Earlier this year, Monbat said that it expects to end the year with revenue of 160.1 million euro and a gross profit of 37.1 million euro.
(1 euro = 1.95583 levs)